US becomes India’s top trading partner
Red Book
Red Book

Pre-cum-Mains GS Foundation Program for UPSC 2026 | Starting from 5th Dec. 2024 Click Here for more information

News:According to the 2018-19 data from the Commerce Ministry, the United States has become India’s top trading partner surpassing China.

Facts:

  • In 2018-19,the bilateral trade between the US and India stands at USD 87.95 billion as compared to USD 87.07 billion with China.
  • India has a trade surplus of USD 16.85 billion with the USA while it has a deficit of USD 53.56 billion with China.
  • Currently,the top five trading partners of India are US, China, UAE, Saudi Arabia and Hong Kong.

Additional information:

Economic Survey on India’s External Trade:

  • Largest export items of India:Petroleum products, precious stones, drug formulations & biologicals, gold and other precious metals.
  • Largest export destinations in 2019-20: United States of America (USA), followed by United Arab Emirates (UAE), China and Hong Kong.
  • Largest import items: Crude petroleum, gold, petroleum products, coal, coke & briquettes.
  • India’s imports continue to be largest from China, followed by USA, UAE and Saudi Arabia.

Discover more from Free UPSC IAS Preparation For Aspirants

Subscribe to get the latest posts sent to your email.

Print Friendly and PDF
Blog
Academy
Community